Editorial – November 2023
The great Indian growth story revolves around infrastructure development and the metals are in the centre position of this process. One can not imagine infra development without metals. If growth story has to materialise fully, it will need a strong support from the metallurgical industry.
It is generally observed that the construction activity (and to some extent infrastructure projects also) tend to slow down in mansoon season. This is because of the flooding conditions in some areas as well as the road damages in some detornorate the effeciency of logistics and slow down the work. This situation gets restored after the rains are over and by diwali time the market starts booming. This year also saw the same phenomenon and as expected the metals demand has started picking up. By the time we approach January, the year end pressure starts building. All the mills and their marketing executives want to complete their yearly targets and try very hard to push material out to the customers or atleast to the warehouse so that it gets added as ‘sold in their yearly talley. This game is being played with the same vigor year after year and finally achieves to provide a substantial forward push to the industry.
As on now, Indian economy looks robust with IMF and ADB projecting more that 7% GDP growth for the fiscal 2024-25. We are the fastest growing economy among the large ones and the government has set a target of reaching to the mark of 5 trilion in the next few years. The international situation at this point of time also seems to be fevouring India. With the clouds of uncertainty roaming around over the Europe and the Middle East (due to Ukraine – Russia and Israel – Hamas war) India is one of the few growing economies of the world. Also, China’s economy is seen de-growing and many companies are preferring to move their manufacturing base outside China. India can make the best use of this situation and consolidate its economy Remember, metals will always be part of this consolidation!
As most of you know, Asian Metallurgy is a well established trade show in Asian metallurgical sector, ferrous as well as non ferrous. It comprises of a World Exposition and a series of panel discussions on the issues related to steel & metals industry across the Asian region. Since the covid pandemic the event has been sucessfully transitioned to digital platform and this year’s edition, 12th Asian Metallurgy targets to reach 1 Million metallurgical executives across the globe. This is the power of Digitalization. The other benefits being it can be accessed from anywhere at 24X7 and is very cost effective The events is scheduled during 18-23 December and one can get the full details on www.steelnmetalexpo.com